Relationship banking manager

Relationship banking managers retain and expand existing and prospective customer relationships. They use cross-selling techniques to advise and sell various banking and financial products and services to customers. They also manage the total relationship with customers and are responsible for optimising business results and customer satisfaction. They typically work with high-net-worth individuals and small businesses.

The duties of a relationship banking manager include, but are not limited to:

• Processing loan applications, including performing background checks on applicants
• Providing advice to customers about financial planning, investments, and other products or services offered by the bank
• Managing relationships with existing customers to ensure they are satisfied with their banking experience
• Reviewing account activity to detect any unusual activity or potential fraud
• Answering questions about specific banking products and services offered by the bank
• Providing assistance with account maintenance activities such as updating contact information and resolving issues with deposits or withdrawals
• Recommending new banking products or services to meet customer needs
• Meeting with potential clients to determine their banking needs and recommend appropriate products or services
• Helping customers understand their financial statements and offering advice on how to manage their money effectively

Relationship banking managers typically work in an office environment during regular business hours, although they may occasionally travel to meet with clients or attend industry events. They typically work a 40-hour week, although they may occasionally work longer hours to meet deadlines or attend evening or weekend events.

Relationship banking managers may experience some stress in their work, as they must maintain a high level of accuracy and attention to detail in their work. They must also be able to work well under pressure, as they may be required to meet tight deadlines.

The following job titles also refer to relationship banking manager:

relationship bankers
private banker
financial products relationship managers
personal financial advisor
private banking relationships managers
private banking relationship managers
commercial banking relationship manager
relationship manager
financial products relationship manager
private banking relationship manager
relations bankers
relationship managers
private bankers
client manager
relations banker
relationship banker

Relationship banking managers are typically required to have a bachelor’s degree in finance, accounting, or business administration. Some employers prefer to hire candidates who have a master’s degree in business administration (MBA)

Some employers require relationship banking managers to have a banking license or certification. Relationship managers can also earn certifications to gain additional knowledge about their responsibilities and further their career advancement opportunities.

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

• the nature of the work performed in an occupation in relation to the characteristic tasks and duties
• the level of formal education required for competent performance of the tasks and duties involved and
• the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Relationship banking manager is a Skill level 4 occupation.

These occupations, although different, require a lot of knowledge and skills similar to relationship banking manager.

bank treasurer
investment manager
credit union manager
corporate banking manager
investment adviser

This knowledge should be acquired through learning to fulfill the role of relationship banking manager.

• Financial products: The different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.
• Customer service: Processes and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer’s or service user’s satisfaction.
• Financial statements: The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
• Financial management: The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.
• Corporate social responsibility: The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.
• Financial markets: The financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.
• Financial analysis: The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.
• Financial jurisdiction: Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction

These skills are necessary for the role of relationship banking manager.

• Maintain relationship with customers: Build a lasting and meaningful relationship with customers in order to ensure satisfaction and fidelity by providing accurate and friendly advice and support, by delivering quality products and services and by supplying after-sales information and service.
• Enforce financial policies: Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.
• Strive for company growth: Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else’s. Strive with actions to increase revenues and positive cash flows.
• Provide cost benefit analysis reports: Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.
• Create a financial plan: Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
• Advise on investment: Assess the customer’s economic goals and advise on the possible financial investments or capital investments to promote wealth creation or safeguarding.
• Identify customer’s needs: Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.
• Prospect new customers: Initiate activities in order to attract new and interesting customers. Ask for recommendations and references, find places where potential customers can be located.
• Obtain financial information: Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
• Advise on financial matters: Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
• Plan health and safety procedures: Set up procedures for maintaining and improving health and safety in the workplace.
• Apply technical communication skills: Explain technical details to non-technical customers, stakeholders, or any other interested parties in a clear and concise manner.
• Consult credit score: Analyse the credit files of an individual, such as credit reports which outlines a person’s credit history, in order to assess their creditworthiness and all the risks that would be involved in granting a person a loan.
• Offer financial services: Provide a broad range of financial services to clients such as assistance with financial products, financial planning, insurances, money and investment management.
• Provide financial product information: Give the customer or client information about financial products, the financial market, insurances, loans or other types of financial data.
• Liaise with managers: Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.
• Follow company standards: Lead and manage according to the organisation’s code of conduct.

This knowledge is sometimes, but not always, required for the role of relationship banking manager. However, mastering this knowledge allows you to have more opportunities for career development.

• Business management principles: Principles governing business management methods such as strategy planning, methods of efficient production, people and resources coordination.
• Foreign valuta: The currencies of different countries such as the euro, dollar or yen including their exchange rate and the methods of currency conversion.
• Securities: The financial instruments traded in financial markets representing both the right of property over the owner and at the same time, the obligation of payment over the issuer. The aim of securities which is raising capital and hedging risk in financial markets.
• Accounting techniques: The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
• Economics: Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.
• Mortgage loans: The financial system of acquiring money by property owners or prospective property owners, in which the loan is secured on the property itself so that the property can be repossessed by the lender in the absence of payments due by the borrower.
• Principles of insurance: The understanding of the principles of insurance, including third party liability, stock and facilities.
• Business loans: Loans which are intended for business purposes and which can either be secured or unsecured depending on whether a collateral is involved. The different types of business loans such as bank loans, mezzanine finance, asset-based finance, and invoice finance.
• Tax legislation: Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
• Types of insurance: The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.

These skills and competences are sometimes, but not always, required for the role of relationship banking manager. However, mastering these skills and competences allows you to have more opportunities for career development.

• Apply credit risk policy: Implement company policies and procedures in the credit risk management process. Permanently keep company’s credit risk at a manageable level and take measures to avoid credit failure.
• Advise on credit rating: Provide advice on the debtor’s ability, be it a government institution or a business, to pay back its debt.
• Analyse market financial trends: Monitor and forecast the tendencies of a financial market to move in a particular direction over time.
• Ensure compliance with company regulations: Guarantee that employees’ activities follow company regulations, as implemented through client and corporate guidelines, directives, policies and programmes.
• Assist in loan applications: Assist clients with filling out and managing their applications for loans by providing them with practical assistance, such as provision of relevant documentation and instruction on the process, and other advice such as any arguments they could bring forward to the lending organisation in order to secure the loan.
• Communicate with banking professionals: Communicate with professionals in the field of banking in order to obtain information on a specific financial case or project for personal or business purposes, or on behalf of a client.
• Examine credit ratings: Investigate and look for information on the creditworthiness of companies and corporations, provided by credit rating agencies in order to determine the likelihood of default by the debtor.
• Manage financial risk: Predict and manage financial risks, and identify procedures to avoid or minimise their impact.
• Negotiate with stakeholders: Negotiate compromises with stakeholders and strive to reach the most beneficial agreements for the company. May involve building relationships with suppliers and customers, as well as ensuring products are profitable.
• Conduct financial audits: Evaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governability.
• Analyse financial performance of a company: Analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external information of the market.
• Operate financial instruments: Work with financial instruments such as stocks, bonds, mutual funds and derivatives.
• Monitor stock market: Observe and analyse the stock market and its trends on a daily basis to gather up-to-date information in order to develop investment strategies.
• Monitor loan portfolio: Control the ongoing credit commitments in order to detect anomalies related to the schedules, refinancing, approval limits etc., and to identify improper disbursements.
• Present reports: Display results, statistics and conclusions to an audience in a transparent and straightforward way.
• Inform on interest rates: Inform prospective borrowers on the rate at which compensation fees for use of assets, such as borrowed money, is paid to the lender, and at which percentage of the loan the interest stands.
• Build business relationships: Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.
• Analyse financial risk: Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

2412 – Financial and investment advisers

---

References

1. ESCO
2. U.S. Bureau of Labor Statistics
3. Banking Relationship Manager Job Description: Salary, Duties, & More – ClimbtheLadder
4. Featured image: Business plan photo created by ArthurHidden – www.freepik.com